New industry figures from Apacs show that the use of cheques continued to decline in 2007, with the year showing the fastest fall in use since their peak in 1991. In all, 1.6 billion cheques were issued, representing a 9% drop over the previous year.

During the same period, there were 5 billion debit card transactions, 5.8 billion automated payments (direct debits, BACS etc), and 2.8 billion cash machine withdrawals.

It seems the end is now in sight for cheques, with major retailers including Tesco and Marks and Spencer soon to stop accepting them at their checkouts, and most utility companies offering a discount for customers who pay by direct debit rather than through the post.

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